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Dish Network (DISH) Stock Initiated at Deutsche Bank

NEW YORK (TheStreet) -- Dish Network Corp. (DISH - Get Report) stock is gaining by 2.46% to $62.54 in mid-morning trading on Thursday, after the company was initiated with a "buy" rating and a $92 price target at Deutsche Bank.

The cable and internet provider won several bids at the AWS-3 spectrum action creating significant value in its wireless spectrum portfolio, Deutsche Bank said in an analyst note.

Dish now has about 12% of the total U.S. wireless spectrum and 21% of the total mid-band capacity, which could be sold or leased to other wireless companies such as Verizon (VZ), T-Mobile (TMUS) and AT&T (T).

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"Our view on the value of the spectrum more than offsets the challenges we see in Dish's traditional business," analysts said.

Dish's cable business is facing rising costs for programming as well as competition from new parties, such as online streaming, that will...